Mortgages - All of your questions answered

Offering Independent Mortgage Advice throughout Guisborough, Teesside and the North East for over 22 years, we have the experience to make a difference and to save you money. As Independent Advisers, we are not restricted to a particular lender when advising you. We can draw on information from the whole marketplace, which changes on a daily basis. There has also never been a more important time to take independent advice on your mortgage than now. In the current 'Credit Crunch' climate, you cannot simply rely upon your existing High Street Lender to provide you with the best mortgage available. It is also vital to fully understand the terms of the product you are applying for and therefore our role is not just to find you the 'cheapest' product, but to find you the most suitable, and for the best price. This is something you do not get over the internet or telephone.

For most people, choosing the right mortgage will be one of the most important financial decisions they ever make. That's why our clients trust us to assist them year after year.

When giving advice, we will take care to help you select a mortgage to fit your needs by asking for relevant information about your circumstances and objectives. Our advice will also depend on your particular requirements and on the market conditions at the time.

No matter what your circumstances, we will endeavour to find a mortgage to suit you.

Repayment Mortgages

A repayment mortgage (or Capital and Interest mortgage) will cost you more per month, but guarantees ownership of your home at the end of the term. Monthly repayments go towards clearing the interest and paying back your initial borrowing. In this way, if you choose to move house partway through the term, you will only have to pay off the remainder of what you owe. This may mean you can borrow less against your new property, or take a new mortgage out over a shorter term.

Some people choose to take out an interest-only mortgage to begin with, then switch to a repayment mortgage when they have more spare cash. If you are experiencing temporary financial problems or expect a wage increase in the future, this might be a good solution.

To see how much a Repayment Mortgage may cost you, 'Click here to use our Repayment Mortgage Calculator or contact us directly for a quotation.

Interest Only Mortgages

In an interest-only mortgage, your monthly payments cover the cost of the interest, but you do not pay off the capital value of your home. This is a good way of keeping repayment costs down, but may be a gamble in the long run. At the end of the mortgage term you will be required to pay off any outstanding amount. Usually this will be the amount you borrowed in the first place. If you cannot pay off the remainder, you will be at risk of losing your home.

You may choose to save over the term of the mortgage. This does not have to be arranged through your lender, although they may offer you a number of investment options designed to clear your debt.

To see how much an Interest Only Mortgage may cost you, Click here to use our Interest Only Mortgage Calculatoror contact us directly for a quotation.

Try our Mortgage Calculators today to see how much it may cost... Our Financial Calculators Offer a Free, Easy Way To Give Your Finances a Health Check.
Repayment Mortgage Calculator...
Interest Only Mortgage Calculator...
Repayment v Interest Only Mortgage Calculator...
Investment Mortgage Calculator...

For further information or advice on any of the above, please contact us

Email: enquiries@activefinancialservices.co.uk Phone: 0845 555 0 888

A minimum Mortgage Advice Fee of £250 may be charged at the outset. A maximum fee of 1% may be charged should you choose for Active to be paid in this way, and not by way of commission from the lender. Fees charged dependent on your circumstances. A full statement of our fees is fully disclosed to you in our Initial Disclosure Document before any advice is given. A copy of this is available on request. Your home is at risk if you do not keep up repayments on a mortgage or other loans secured on it.

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